Malaysia: Malaysia and Japan continue to strengthen strategic cooperation in the rare earth elements (REE), critical minerals, and climate action sectors through a courtesy visit by Japan's Parliamentary Vice-Minister of Economy, Trade and Industry (METI) Komori Takuo to the Ministry of Natural Resources and Environmental Sustainability (NRES) yesterday.
According to BERNAMA News Agency, NRES, in a statement today, said the meeting, led by Deputy Natural Resources and Environmental Sustainability Minister Syed Ibrahim Syed Noh, aimed to strengthen bilateral ties and examine follow-up actions based on the decisions of the bilateral summit meeting in June, under the framework of the Malaysia-Japan Comprehensive Strategic Partnership.
During the meeting, Malaysia expressed its appreciation for Japan's continued technical cooperation and technology transfer through the Japan International Cooperation Agency (JICA) and the Japan Organisation for Metals and Energy Security (JOGMEC). At the same time, Malaysia reaffirmed its firm position on the policy of a moratorium on the export of raw REE materials to ensure that processing activities and value-added processes can be fully carried out domestically, the ministry said.
NRES also mentioned that apart from the minerals sector, both countries welcomed the finalisation of negotiations on the draft Memorandum of Cooperation (MoC) for the Joint Crediting Mechanism (JCM). The ministry added that the carbon market cooperation based on Article 6.2 of the Paris Agreement is expected to be finalised by the end of this year to spur investment in low-carbon technologies, while also supporting the energy transition and the fulfilment of Malaysia's Nationally Determined Contribution (NDC).
Malaysia is confident that combining Japan's green technology expertise with the country's sustainable resource potential will strengthen the growth of a competitive green economy and deliver long-term benefits to both sides, NRES said. The Malaysian delegation also comprised NRES deputy secretary-general (Natural Resources) Datuk Khalid Mohamed, senior NRES officers and representatives from the Foreign Ministry, while Japan was represented by Japanese Ambassador to Malaysia Shikata Noriyuki and senior METI officials.